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It’s the Economy, Stupid!! Or…why economics matters to you.

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Presentation on theme: "It’s the Economy, Stupid!! Or…why economics matters to you."— Presentation transcript:

1 It’s the Economy, Stupid!! Or…why economics matters to you

2 Consumer Questions / How seatbelts make us less safe? / Why energy- efficient cars may not necessarily reduce our consumption of gasoline? / Why low tar cigarettes could lead to a higher incidence of lung cancer? / How seatbelts make us less safe? / Why energy- efficient cars may not necessarily reduce our consumption of gasoline? / Why low tar cigarettes could lead to a higher incidence of lung cancer?

3 Economic Thinking / Everything has a cost- no free lunch / People choose for good reasons- / Incentives matter- / Economic actions carry secondary effects / People gain from voluntary trade- its people not countries who trade / Everything has a cost- no free lunch / People choose for good reasons- / Incentives matter- / Economic actions carry secondary effects / People gain from voluntary trade- its people not countries who trade

4 Economic thinking / Economic thinking is marginal thinking- have to give something up to gain something / The price of a good or service is affected by people’s choice- supply and demand / People create economic systems to influence choice and incentives- as rules change incentives and behavior change / Economic thinking is marginal thinking- have to give something up to gain something / The price of a good or service is affected by people’s choice- supply and demand / People create economic systems to influence choice and incentives- as rules change incentives and behavior change

5 Housing Market Humor

6 Economic Cartoon Portfolio / Economic cartoons make a humorous comment about something in the economy of great concern to the people who have to tolerate economic conditions. Humor can relieve stress during unpleasant economic situations.

7 Economics in one humorous lesson

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